The agreement also provides the airline with purchase rights for 30 additional 737 MAXs.

According to the U.S. Department of Commerce, an aerospace sale of this magnitude creates or sustains approximately 18,000 jobs in the United States. Deliveries would be scheduled to start in 2022.

Boeing negotiated the MOA under authorizations from the U.S. government following a determination that Iran had met its obligations under the nuclear accord signed in 2015.

Boeing will look to the Office of Foreign Assets Control (OFAC) for approval to perform under this transaction. Boeing continues to follow the lead of the U.S. government with regards to working with Iran’s airlines, and any and all contracts with Iran’s airlines are contingent upon U.S. government approval.